Groups & Communities

Education and training influences the economy, but what happens in the economy also has a big affect on what we are taught.  Investing in education has long been seen as an important way for economies to grow.¹  This is because well trained workers tend to be more productive, which means they make more money which increases the size of the economy.

The cultural institutions we’re a part of will play a big part in shaping our economic choices – from donating to charity as part of a church group, to fasting for Ramadan, to giving up chocolate for Lent. They could also play a part in how much power we have in an economic relationship.

Whatever our religion, social background, and personal values, the one system we’re all subject to is “the law”. Not everyone agrees on laws – gun laws, drug laws, and citizenship laws are extremely controversial, to name a few. But, by and large, laws are supposed to be the closest thing to a neutral set of rules for everyone to live by. Economies are shaped by the legal systems they’re in – what can and can’t be traded, what is and isn’t fair, what can and can’t be owned.